AIR Zimbabwe and Cottco are some of the country’s parastatals leading the pack in implementing strategic plans to contribute to economic growth and development.
The fortunes of the country’s national flag carrier have declined over the past three decades, with the parastatal relying mainly on government bailouts due to huge financial difficulties.
However, Air Zimbabwe is on a recovery path after benefiting from the stable economic environment created by the Transitional Stabilisation Programme.
The 5-year National Development Strategy One has given the National Airline further impetus with the company’s Acting Chief Executive Officer Mr Joseph Makonise outlining their strategic plan.
“Over the last two years we have acquired some aircraft to expand our fleet and we expect to acquire another one during the year 2021 so that we reestablish some old routes which we expect to increase the company’s revenue sources,” he said.
Cottco which is a key asset in cotton farming and the textiles industry is also set for a major transformation with newly appointed Board Chair, Mr Sifelani Jabangwe vowing to reposition the state enterprise in the national economy.
“Cottco is a key asset for the country in terms of transforming rural economies so we will reposition it so that our farmers can be empowered. Further to that we also want to focus on value addition to increase our exports,” he said.
Under the Second Republic, the National Development Strategy is set to further set the tone for the revival of parastatals to ensure they meaningfully contribute to economic development in pursuit of an upper middle-income status by the year 2030.